OPEC revenues once again key to price forecasts

A crucial influence on the price of crude this year will be one that all but lacked pricing significance last year.The oil revenues of key members of the Organization of Petroleum Exporting Countries have reemerged as a factor in price forecasts.According to the US Energy Information Administration, strong prices pushed up OPEC net oil export revenues by 43% in 2005 to an estimated $473 billion. EIA projects a 10% increase this year.OPEC revenues, in concert with budget needs, affect quota and production decisions and therefore crude prices.Last year, those decisions were easy. Because the market absorbed all available crude, welcoming supply with elevated prices, most OPEC members produc...

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